The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-12-30

\
house revenue. y = q
In order to make IL still more clear
how mistakes may be made by taking
these exhausted debts and credits brought
forward from former years 10 the current
year, respondents show that what appears
TO be an oyerdraft OF sl08, 5s8 90 to streets,
etc, does not stand for its real receipts or
actual disbursements OF 1887. II had its
origin In the first year OF the government.
This account was overdrawn $26, 593 10 In
December, 1881, and was complicated with
the sewer account, which account was
largely ovcrdrawn in 1880, but not 80
largely as ii appeared TO he when the bal
ances were properly adjusted between 1t
and other accounts. Its real debit was
Sil, 702 IL. This was carried TO street ac-
count early in January, 1887, but as debit
OF so, 800 "a, instead OF the proper bi lance
Of 81 ,702 II. This sum, aud the $780,
b9S 10 ovcrdraft OF 1881 OF street account,
are worked forward through all the inter-
vcning years, and form part ofthe socalled
ovcrdrait Of Sl06, 2S5 96 Of 1887. =.
These exhausted balances do not stand
for living ciedits and debts. They do not
furnish true critcria Of the actual condition
Of the Taxing District affairs. This be-
comes manifest when IL is shown that for
1887 the taxes imposed for street account
were SlO3, 4l6 "; its collections from this
tax were, to December |, 1887, Sl03, $50 81,
its total expenditures Sl22.4l3 w, being an
excess OF only Sl9,09 AZ over its own re-
ccipis, and only $1,000 IS over its own
proper tax for 1887. This excess, as al
ready shown, Was not met by diversion
Of revenue from any other department or
purpose, but out OF the surplus revenue OF
the government from back taxes and other
sources OF revenue.
Tho true condition Of the Taxing Dis
trict may he thus summarized: 'The cur
rent wants and actual debit balances Of
all departments and purposes OF the gov
eminent have been met from current reve-
nue. and surplus back tax and station
house revenue 10 December ], 1887. The
district owes only small advance OF
s., 900, and some small bills not yet pre-
scntcd, the whole, including said 5000,
not exceeding $4,000; and 10 meet this
liability IL has over $50, 600 Of solvent, de-
linqucnt and back taxes and it's surplus
station-housc revenue. II has in addition
-. 900 worth OF good paving stone, bought
aud paid for Ia be used in paving Third
street aud which may be seen piled on
the sides Of tnis street, but which would
for the check put upon all such improve.
mcnts by the new, but unsound, theory
that the Taxing District authorities could
not usc its surplus revenue in making the
same without mourning both civil and
criminal responsibility. ' p d
NL
The account Of 1887, 10 December !,
stated on the rule used in stating the ac
counts Of several biennial periods, in the
biennial reports. shows net credit OF
81, SOi ~, instead OF debit or ovcrdrlft Of
SlOBOO0.
The rule applied in making the bicn-
nial reports il Ia embrace the surplus col
lections from all years with current re-
ccip,s, and also Ia bring forward all past
debts. When the aggregate Of surplus
accounts or credits is applied to aggregate
debts or oycrlrais. the net result IL pro-
ducrd, statement thus mahe IL n very
different thing from one confined 70 tll'
receipts and disbursements for the chrrnt
biennial period and the years constituting
such period: as IL deals with the surplus
receipts from prior years, 80 IL must cm
brace net debts ri such ycan IN order TO
get the net surplus.
The reports Tor the biennial periods
thus made up show the following results;
l. Biennial pcrio lS7O-S0 Hon. u. Z.
Portcr's rporil. net debit, 500 20.
p Biennial period lSSl.S2 lladdenl, net
credit, ss,i 80 *. tlt
3 llicprial period 1881 ,Iladdenl, NET
debit, SS,0j2 30.
4 biennial period 1859 CIihddrni, net
debit, 81, AS o..
For irst half of the biennial period OF
| ~ H.
ccmhcr |, net credit ~ .SOl ., instead oi
an oycrdmft or net debit of slOB.uOp.
The biennial reports 40 not include un.
collected back taxes In reaching the said
results They arr based upon all colcc
lions aud disbursements,
II " bc said that this estimate does moi
include the said 5000 advance aud hill.
not presented, making total not cxc,c,l
ing s2O, 900, the answer Is that the dis,rcI
hnH over sSO. 90 solvent back taxes aud ~
staiion-housc monthly surplus with Which
90 meet the same.
Rock bottom, aud no mistake.
xii.-rnr nAIANcEsuKEr WINCH TuE nil
sErs our ASALYzED-AND TnE HHAI
fACrS STAYED.
The so-calcd balnnccshcct purporis I,
embrace only revenue arising from the biN
! oi 1857 aud the disposition thereof. IL Il
brought down Ia November /, lSS7.
! I. II shows debit ~ strcct, etc, account
\ uf SiNi. So 81, hut omiis ils cuadit oi : .ui
$50 NJ realized from the levy IT 1877 iur u.
benefit This credit allowed and dr,lucic,
would leave a net debit against sud ac
; count of only S2,bi3 H. THIS one fact de
stroys the paper IN n balance sheet. l
! gives the debit, but umils the credit Nc
, q balance sheet at all. hut like saddle
wallet, with the weight NIL In one cnd.
{ .. The large item ui SlO,3Di pi. Ia salary
, etc, account. II not from taxation, but b
\ revenue derived from Hation huiisc, mar
= kct rcnis and inspection fees. IL has
therefore, no right 90 place In pare
! | purporting Ia bc u hnlnncc.shcct Ol th
{ iaNra imposed fur the year 1887.
y Z The credit of Sll,GB1p ~ to publ
. buildings account comuS wholly lrom take
Z imposed Tor years preceding that 1T 1881
a and should not therefore. he in sud bal
anccshcct.
4 The crc,lit 20 police account OF sl7,
= 500 ~ II surplus Accommodations irom ini
4 mcr ycars, aud not irom the levy of lSS1
!. aud carried to that accountior conycnlenc
b mcrCly.
= q. ihc same ~ true Of about half IN
A crcdit OF Sil.OiB " 10 fin account 1hu
Q u, about hall IL irum the tax OF 1857, an
a the balance from back taxes.
ID u. The credit oi -, IO2 90 to the accour
); Of lighting u irm hack taxes, and ne
!. from the taxes oi 1887.
> 7. The cr,,iit to public schools 81 -
60 o. Il the insult OF iaNcs imposed II
~ piior years, aud not ium the tax OF 1857.
Il + The crclii of -. 20 80, Ia the publ